Annual Report for FY 2024-25 is attached herewith
RHETAN · price
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Rhetan TMT Limited has filed its 41st Annual Report for FY 2024-25 along with the AGM notice, with the 41st AGM scheduled for September 25, 2025 via video conferencing. Key agenda items include adoption of FY25 financial statements, re-appointment of Managing Director Shalin A. Shah, and appointment of Mr. Chintan K. Patel as Secretarial Auditor for a five-year term (FY 2025-26 to FY 2029-30) at a proposed fee of Rs. 40,000 plus taxes. The company is also seeking shareholder approval for material related party transactions of up to Rs. 200 crore each with five related parties — Ashoka Metcast, Ashnisha Industries, Lesha Industries, Gujarat Natural Resources, and Lesha Ventures — for FY 2026-27. The aggregate proposed RPT value of approximately Rs. 1,000 crore is around 538% of Rhetan TMT's annual turnover, indicating very heavy related party dealings. The MD and other directors of Rhetan TMT hold direct and indirect stakes in all five related parties.
The proposed related party transactions are unusually large relative to the company's turnover, which may raise corporate governance concerns for minority shareholders. While the company claims transactions are at arm's length and in the ordinary course of business, the scale of interconnected dealings with promoter-linked entities warrants close scrutiny by public shareholders ahead of the AGM vote.